Monrovia, IN is a small city located in Morgan County and is known for its tight-knit community. The cost of living in Monrovia is quite reasonable compared to other cities around the country. 2 bedroom rent in Monrovia is just $970 per month, which is far less than the US average of $1,430/month. Furthermore, the Grocery Cost Index in Monrovia is 95 versus 100 in the US. This means that groceries are slightly cheaper than average in Monrovia.
There are many local companies in Monrovia such as Firestone Complete Auto Care, McDonald’s, Sonic Drive-In, Walgreens Pharmacy and Speedway gas station. These businesses are all important pieces of the local economy and provide employment opportunities for residents. All together, these factors make Monrovia an attractive option for those looking for an affordable place to live with plenty of job opportunities nearby.
Monrovia has an unemployment rate of 3.9%. The US average is 6.0%.
Monrovia has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Monrovia
- The Sales Tax Rate for Monrovia is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Monrovia is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monrovia
- The average income of a Monrovia resident is $30,075 a year. The US average is $37,638 a year.
- The Median household income of a Monrovia resident is $82,583 a year. The US average is $69,021 a year.